A long-serving Credit Suisse banker is leaving after reports of clashing with the bank's new chair.
After a 30 year-long stint veteran banker Eric Varvel is leaving Credit Suisse, according to an internal memo seen by finews.com. The content was confirmed by the bank.
Varvel, who joined the Swiss lender in 1991, served as the chair and chief executive of Credit Suisse’s U.S holding. He also acted as chair of the global investment bank and the chairman of Qatar.
Greensill Champion
A media outlet recently reported Varvel had disagreed with the bank's overseer of ten months António Horta-Osório over «style and strategy». James Walker has been appointed the chief executive of Credit Suisse Holdings (U.S.) on a temporary basis, the memo adds.
Last spring Varvel was demoted from his position as head of asset management, where he championed the Greensill supply chain funds. These were launched in 2017, a year after his appointment, and managed more than $10 billion in assets at their peak.
